Metlock Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. $ 163,800 651,200 Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns 29,500 925,900 66,700 11,300 Purchase discounts Part 2 Your answer is incorrect. Compute the estimated inventory at May 31, assuming that the gross profit is 30% of cost. (Round percentage of sales to 2 decimal places, e.g. 78.74% and final answer to O decimal places, e.g. 6,225.) $ The estimated inventory at May 31 e Textbook and Media Save for Later Attempts: 2 of 15 used Submit